published on December 4, 2017 - 12:33 PMWritten by The Business Journal Staff

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The U.S. Small Business Administration announced record levels of small business lending originating from its Fresno office, which covers a 15-county region in the Valley and Central Coast.

For fiscal 2017, the SBA in Fresno guaranteed more than $425.5 million in loans — an increase of more than $6 million over last year.

“SBA loans continue to be the catalyst that entrepreneurs need to start, run, and grow their companies,” said Dawn Golik, acting director of the Fresno district office. “Working with an outstanding network of SBA lenders, our programs helped business owners across the San Joaquin Valley and Central Coast access capital, create and retain over 9,000 jobs, and strengthen this region’s economy.”

The SBA has two small business lending programs. The 7(a) loan can be used by small businesses for working capital, fixed and intangible asset financing, refinance and export support. The long-term 504 loan is designed for the purchase of fixed assets including real estate, buildings and machinery.

A total of $340 million 7(a) loans were made out of the Fresno district — an increase of $4 million from last year. There were also $86 million in 504 loans — up $2 million from last year.

In Fresno County alone in fiscal 2017, there were 151 7(a) loans for a total of $77 million, and 21 504 loans worth $15.8 million.

“The steady, continued growth of SBA’s loan volume underscores this region’s economic growth, and highlights small business confidence in the economy. During 2018, the Small Business Administration will continue helping small businesses which, nationally, are creating two out of every three net new jobs,” said Golik.

For more information about SBA’s loan programs, financial assistance and other services, visit www.sba.gov.